Managers of Wealth

Banking regulation meets law of unintended consequences

The knock-on effects are widespread and not always intended

PwC launches Intergovernmental agreement monitor

The expected wave of intergovernmental agreements (IGAs) implementing the tax reporting and withholding procedures commonly associated with the Foreign Account Tax Compliance Act (FATCA) has begun.

Switzerland ready to discuss tax information matters with India

Switzerland has also agreed to an OECD global automatic exchange of tax information framework

Revenue scouring Facebook and Twitter for tax cheats

The Finance Minister Michael Noonan revealed to the Finance Committee that Revenue is sourcing out those involved in tax evasion or smuggling on the internet, and using 'predictive analytics'.

XXIV Old Buildings hires Withers Litigation Partner

International commercial and chancery set, XXIV Old Buildings is delighted to announce the appointment of Sue Medder as Chambers’ Director.

Swiss Bank Group Sees EU Marketing Restrictions as Growth Risk

Switzerland is at risk from plans to tighten European regulations on cross-border wealth management as the industry is vital to the nation’s economy, according to the Association of Swiss Private Banks.

Baker & McKenzie doubles down on cost-slashing overseas back office

Baker & McKenzie LLP is planning to build another back office to handle document processing and more complex support services,

West End law firm boosts private client offering with new partner appointment

He was a partner in the Private Client department of Lee Bolton Monier-Williams

HM Treasury update on AIFMD transitional arrangements - Withers

HM Treasury intends to make an amending statutory instrument to this effect in early 2014 but in the meantime, all transitional AIFMs are encouraged to make their applications for authorisation or registration as soon as possible.

FCA rejects Apfa call for adviser compensation over fees

The regulator currently separates advisers into two fee blocks, A12 and A13, depending on whether or not they hold client money.

German prosecutors probe Leumi clients over tax evasion - report

Leumi said it is aware of an investigation being conducted by the German authorities

Revenue clampdown on offshore trusts pays off

HMRC stepped up its attack on banks and other businesses that paid salaries and bonuses through trusts, ratcheting up an extra compliance bill for the 770 companies in the large business sector by 160 per cent to £533m in the year to April 2013.

International law firm Adds Veteran Tax Controversy Partners

The international law firm have announced that two partners with deep experience in tax controversy, criminal tax law and tax litigation have joined the firm from Hass & Hecht.

Unable to bank on Switzerland, India intensifies pressure for information on tax evaders, account holders

After Cyprus, Switzerland is next on India's black money hit list

Withers Bergman Adds Premier Trusts & Estates Attorney

He is widely recognized as one of the foremost estate planning and business succession planning attorneys in the United States.

From Spanish Royals To American Tax Protestors, Tax Evasion Can Mean Jail

The Princess faces tax fraud and money laundering charges.

Swiss Court Blocks Julius Baer Client Data Transfer to U.S.

Switzerland’s largest federal court told the nation’s tax authority not to disclose data about the bank account of a client of Julius Baer Group Ltd. to the U.S., after the Internal Revenue Service made an invalid request.

More whistle-blowers reporting tip-offs to FCA

Following this market abuse investigation, financial regulators in both the UK and US have reported more instances of tip-offs relating to potential illegal behaviours within the industry.

Proposed Changes to the Taxation of UK Partnerships by Richard Ward, Ceinwen Rees, Debevoise

In May 2013, HM Revenue & Customs (“HMRC”) published a consultation document looking at various aspects of partnership taxation.

Commerzbank Loses Singapore Bonus Suit With Dresdner Bankers (1)

Commerzbank AG must pay bonuses to 10 bankers in Singapore at its now-defunct Dresdner unit, who claimed the lender breached their contracts by refusing to pay, a judicial official ruled.

Legal,Regulation,Tax & Compliance